Dollar is Devaluating in terms of rupees?

dhaval16886 · Been around a while Joined: 28 May 2007 Posts: 30

Dollar is Devaluating in terms of rupees?[/u][/i][/b]

parinita achari · Been around a while Joined: 06 May 2007 Posts: 28

Dollar is definitely devaluating in terms of rupees;
earlier the value per dollar was arnd approx. 50 rupees
but conserding our fast growing economy
the value per dollar has devaluated to approx. 40 rupees
On one hand it is an advantage to a developing country like ours
as our import bills will be reduced,
but on the other hand it is discouraging our exporters
as they are running into losses.
The govt. is trying to compensate for the losses
to the exporters by covering
a genuine percentage of the difference in currency rates.